5. You’re currently renting your vacation home through a property management company, but you’d like to make more money. Ditching the middleman may be the way to go. Property managers simply charge a hefty fee for their services. In fact, as Karpinski’s books point out, you have to rent ten more weeks with a management company to end up with the same amount of money you’d make renting by owner. And with the growing popularity of vacation home rental websites like HomeAway.com, finding renters is surprisingly easy.

“Here’s another good reason for seniors to rent by owner: they typically have time to handle the details,” says Karpinski. “Not that there’s a huge amount of work involved, but it is easier to respond to renter inquiries, do bookkeeping, orchestrate routine maintenance details, and so forth when you aren’t tied down to small children and/or a demanding career. Plus, vacation rental homeowners often meet interesting people and form friendships with them, and retirees tend to have more time to nurture these relationships.”

And here’s a surprise: people who try renting by owner often end up liking it so much that they pour their earnings into another vacation home. In fact, a recent survey by the National Association of Realtors® found that some 55% of vacation home buyers said they were likely to purchase another property within two years.

Some owners of apartments employ a property manager who acts between the owner and the tenant. They can be in charge of advertising empty units, dealing with rent issues and tenant complaints, and signing and renewing the lease. They have many responsibilities as part of their job. These individuals must be able to multitask efficiently and juggle all responsibilities which come their way in order to complete their daily duties as effectively as possible.

Duties may include selling, leasing, transferring and operating of real estate property. They will act as liaisons between a number of different groups of people involved with the real estate property and ensure that the real estate operations and transfers go smoothly.

In general, their main priority is ensuring that the specific real estate property is handled and managed as effectively as possible. They are also responsible for managing other property employees to aid them in completing their duties. The property manager can handle a variety of different property types such as residential, commercial and industrial.